Orioles CEO John Angelos Discusses Camden Lease, Ownership, Payroll, Extensions

Orioles CEO/chairman John Angelos met with reporters (including The Baltimore Sun’s Nathan Ruiz and Rich Dubroff of BaltimoreBaseball.com) today to discuss a wide range of topics regarding the franchise, its offseason moves, and the bigger-picture question of the Orioles’ long-term future in Baltimore.

To the latter subject, Angelos reiterated his family’s commitment to the ownership of the Orioles, saying “I would say that there’s not a plan to change the principal ownership or the managing partnership and there would be no reason to.”  While a new minority owner might be brought into the ownership group, Angelos noted that such a move wouldn’t necessarily be unusual, given that some of the original investors in the group “have transitioned out” in the 30 years since Peter Angelos (John’s father) first brought the franchise and become majority owner.

“It would be nice if we could attract strategic people who care about Baltimore, who care about the way we’re doing this now, who care about the example Camden Yards set and want to be part of it,” Angelos said.  “That’s not necessary or a requisite, but we’re open to it.  We have no plan to change or transition out of what we have today.”

Some of the questions surrounding the Orioles’ ownership situation were raised by a lawsuit filled by Louis Angelos (John’s brother), who raised the possibility that John and his mother Georgia could possibly sell the team, or move the Orioles to Tennessee.  Earlier this month, Louis’ lawsuit and the countersuit from Georgia Angelos were dropped, bringing an apparent end to a legal dispute.  Unsurprisingly, John didn’t get into specifics about the lawsuits, other than to say “those things are distractions, and it’s unfortunate whenever they arise, but all good things going forward now.”

Angelos noted his longstanding commitment to Baltimore and his desire to finalize a new, longer-term lease for the Orioles at Camden Yards.  The current lease is up after the 2023 season, since the O’s passed on their opportunity on February 1 to trigger a five-year lease extension.

Despite this ticking clock, Angelos has confidence that a new deal will be reached, saying that “the actual facility use agreement, renewing a 30-year-old document, that’s really a minor sidelight” to the Orioles’ larger plans for a more fully developed stadium-village type of project, given that Camden Yards is right next to M&T Bank Stadium, home of the NFL’s Baltimore Ravens.  The ideal would be a thriving downtown area that provides value to the city, state, and the franchise beyond just gamedays.

“I have no doubt that we will relatively rapidly move towards the renewal of the public-private partnership and I would be very disappointed if I’m not able to work with the governor and his team…to make that happen in the next six months. I’d love to have that as an All-Star break gift for everybody, really,” Angelos said.  “There’s just no there there other than we’re going to get that done.  That’s always been one of the things I committed to and I have no intention of not seeing that happen.  I know the governor and his folks are just as keen on it as we are.”

Making reference to himself as “here for the long haul” with the franchise, Angelos used the same terminology to describe GM Mike Elias and manager Brandon Hyde, implying some security with the contracts of both men.  While specifics weren’t mentioned, Angelos said Elias and Hyde’s current deals aren’t “expiring in a year or two years or anything like that.”

Since the Orioles usually don’t publicize contract terms, not much is known about the nature of either agreement.  For instance, Hyde initially signed a three-year deal as manager in December 2018, but he also inked an extension during the 2020-21 offseason — a fact that wasn’t reported until September 2021.  Elias was hired a month before Hyde, and while terms were never released about the GM’s contract, it is fair to speculate that he might have gotten a relatively lengthy deal (say, four years) considering the wide scope of the rebuild project the Orioles were on the verge of entering.  That said, Angelos’ comments hint that Elias might have signed an extension in the interim, keeping him in Baltimore through at least the 2025 season.

Locking up Elias and Hyde certainly seems like a no-brainer move given the progress the Orioles made in 2022.  The first three seasons of the Elias/Hyde rebuild resulted in non-competitive seasons, but the O’s were a very respectable 83-79 last season.  Star rookie Adley Rutschman has already established himself as a quality player, and Rutschman might be just the first of several top prospects the Orioles can hope can make a quick impact at the MLB level.

However, the immediate follow-up to this breakout season has been modest, since the O’s have had a relatively quiet offseason.  According to Roster Resource, the Orioles’ projected $63.4MM payroll for 2023 is essentially the same as their year-end figure from 2022, since Chris Davis finally came off the team’s books following last season.

Angelos didn’t close the door on increased spending in the future, saying “Could payroll be double or triple what it is?  Or could it be over 100 million?  Yeah.  We’re not there yet.  We have a very young team that’s overachieved and overperformed because of the great work of our baseball folks.”

“Payroll, I think there’s a range there that Mike and his team have to determine.  Do I have a role in that?  Really only to make sure their recommendations are properly funded.  We’re probably not going to have or is any other middle or small-market team going to have the payroll of the Mets or the Dodgers or even the Red Sox, certainly not the Yankees.  That’s not an Oriole thing.  That’s a small or middle-market team in this economic system.”

Citing other teams with notably lower payrolls, Angelos mentioned that the Guardians, Brewers, and Rays are teams that the O’s would like to emulate, since “we’re aiming for sustained success, and I think what you see in a place like Tampa, they have had sustained success….I would be disappointed if we’re not the next Tampa, which means being sustainably competitive and relevant.”

This might not be welcome news for Baltimore fans, who would certainly like to see their team become a regular contender but with the flexibility to spend at a much higher level than the Rays.  The Orioles’ spending fluctuated when Peter Angelos had day-to-day control over the team, though the O’s had top-10 payrolls as recently as 2016 and 2017.